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Axos Financial, Inc. — Presentation / slide deck (8-K exhibit)
Axos Financial, Inc. (AX) · 10 slides · Filed Jul 30, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All AX deck slides
Slide 1 — Axos Q4 Fiscal 2026
Axos Q4 Fiscal 2026 Earnings Supplement NYSE: AX July 30, 2026
Slide 2 — Loan Growth by Category
2 © 2026 Axos Financial, Inc. All Rights Reserved. 2 Loan Growth by Category $ Millions SF Warehouse Lending Multifamily Small Balance Commercial Jumbo Mortgage Asset-Based and Cash Flow Lending Lender Finance Non-RE Capital Call Facilities Auto Unsecured/OD Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Loans Inc (Dec) Q3 FY26 Q4 FY26 $ 5 $ 3,784 $ 3,789 (128) 921 793 17 1,437 1,454 (7) 1,037 1,030 36 7,235 7,271 109 1,488 1,597 (261) 2,246 1,985 91 2,920 3,011 89 1,661 1,750 625 2,125 2,750 40 538 578 9 79 88 $ 625 $ 25,471 $ 26,096 Lender Finance RE CRE Specialty Auto & Consumer Equipment Lending and Leasing
Slide 3 — Diversified Deposit Gathering
3 © 2026 Axos Financial, Inc. All Rights Reserved. 3 Diversified Deposit Gathering Deposit balances as of June 30, 2026 Note 1: Excludes approximately $475 million of off-balance sheet deposits › Serves approximately 30% of U.S. Chapter 7 bankruptcy trustees in exclusive relationship › Software allows servicing of SEC receivers and non-chapter 7 cases › Full service digital banking, wealth management, and securities trading › White-label banking › Business banking with simple suite of cash management services › 1031 exchange firms › Title and escrow companies › HOA and property management › Business management and entertainment › Broker-dealer client cash › Broker-dealer reserve accounts › Full service treasury/cash management › Team enhancements and geographic expansion › Bank and securities cross-sell Fiduciary Services $1.1B Consumer Direct $12.6B Specialty Deposits $3.3B Distribution Partners $0.3B Axos Securities1 $1.2B Small Business Banking $1.1B Commercial & Treasury Management $5.0B Approximately 85% of deposits are FDIC-insured or collateralized Total Deposits: $24.6B
Slide 4 — Change in Allowance for Credit Losses (ACL) & Unfunded
4 © 2026 Axos Financial, Inc. All Rights Reserved. 4 Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL) ($ in millions) ACL + UCL ACL + UCL (17.1) 0.2
Slide 5 — Credit Quality ($ millions)
5 © 2026 Axos Financial, Inc. All Rights Reserved. 5 Credit Quality ($ millions) % Non-Accrual Loans Loans O/S June 30, 2026 1.29 % $ 59 $ 4,582 Single Family-Mortgage & Warehouse 0.20 5 2,484 Multifamily and Commercial Mortgage 0.17 15 8,868 Commercial Real Estate 0.81 77 9,496 Commercial & Industrial - Non-RE 0.15 1 666 Auto & Consumer 0.60 % $ 157 $ 26,096 Total % Non-Accrual Loans Loans O/S March 31, 2026 1.21 % $ 57 $ 4,705 Single Family-Mortgage & Warehouse 0.28 7 2,474 Multifamily and Commercial Mortgage 0.17 15 8,723 Commercial Real Estate 1.09 98 8,952 Commercial & Industrial - Non-RE 0.49 3 617 Auto & Consumer 0.71 % $ 180 $ 25,471 Total % Non-Accrual Loans Loans O/S June 30, 2025 1.00 % $ 44 $ 4,395 Single Family-Mortgage & Warehouse 1.12 33 2,941 Multifamily and Commercial Mortgage 0.42 29 6,937 Commercial Real Estate 0.91 62 6,796 Commercial & Industrial - Non-RE 0.41 2 483 Auto & Consumer 0.79 % $ 170 $ 21,552 Total
Slide 6 — AXOS FINANCIAL, INC.
6 © 2026 Axos Financial, Inc. All Rights Reserved. 6 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Selected Balance Sheet Data: $ 24,783,078 $ 27,431,817 $ 28,201,406 $ 29,248,986 $ 29,961,869 Total assets 21,049,610 22,635,137 24,272,552 24,957,536 25,595,403 Loans—net of allowance for credit losses 290,049 307,431 327,043 346,702 347,375 Allowance for credit losses 66,008 57,798 811,126 801,439 803,667 Securities—available-for-sale 139,396 182,518 109,141 133,015 163,462 Securities borrowed 252,720 263,095 277,308 333,699 347,944 Customer, broker-dealer and clearing receivables 20,829,543 22,264,753 23,232,748 22,388,135 24,565,392 Total deposits 60,000 60,000 60,000 1,805,000 154,000 Advances from the FHLB — — 691,507 634,452 576,680 Secured financings 312,671 510,064 364,814 378,065 342,915 Borrowings, subordinated notes and debentures 139,426 204,620 128,869 148,668 194,729 Securities loaned 350,606 385,821 358,727 338,592 365,792 Customer, broker-dealer and clearing payables $ 2,680,677 $ 2,793,121 $ 2,930,092 $ 3,065,183 $ 3,166,418 Total stockholders’ equity 56,483,617 56,643,547 56,677,323 56,882,190 56,734,049 Common shares outstanding at end of period 71,101,642 71,356,510 71,420,064 71,724,042 71,939,630 Common shares issued at end of period Per Common Share Data: $ 47.46 $ 49.31 $ 51.70 $ 53.89 $ 55.81 Book value per common share $ 44.60 $ 45.21 $ 47.79 $ 49.71 $ 50.96 Tangible book value per common share (Non-GAAP)1 Capital Ratios: 10.82 % 10.18 % 10.39 % 10.48 % 10.57 % Equity to assets at end of period Axos Financial, Inc.: 10.73 % 10.26 % 9.80 % 10.17 % 9.94 % Tier 1 leverage (to adjusted average assets) 12.52 % 11.66 % 11.65 % 11.65 % 11.76 % Common equity tier 1 capital (to risk-weighted assets) 12.52 % 11.66 % 11.65 % 11.65 % 11.76 % Tier 1 capital (to risk-weighted assets) 15.28 % 15.20 % 14.39 % 14.32 % 14.39 % Total capital (to risk-weighted assets) Axos Bank: 10.23 % 9.69 % 9.15 % 9.39 % 9.24 % Tier 1 leverage (to adjusted average assets) 12.42 % 11.37 % 11.12 % 10.90 % 10.93 % Common equity tier 1 capital (to risk-weighted assets) 12.42 % 11.37 % 11.12 % 10.90 % 10.93 % Tier 1 capital (to risk-weighted assets) 13.70 % 12.62 % 12.37 % 12.13 % 12.10 % Total capital (to risk-weighted assets) Axos Clearing LLC: $ 86,996 $ 91,442 $ 94,673 $ 103,752 $ 96,923 Net capital $ 81,834 $ 86,042 $ 88,369 $ 97,249 $ 89,854 Excess capital 33.71 % 33.87 % 30.04 % 31.91 % 27.42 % Net capital as a percentage of aggregate debit items $ 74,091 $ 77,942 $ 78,913 $ 87,495 $ 79,250 Net capital in excess of 5% aggregate debit items AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)
Slide 7 — AXOS FINANCIAL, INC.
7 © 2026 Axos Financial, Inc. All Rights Reserved. 7 At or For The Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 Selected Income Statement Data: $ 442,413 $ 465,736 $ 513,845 $ 478,241 $ 499,130 Interest and dividend income 162,252 174,686 182,136 171,980 181,240 Interest expense 280,161 291,050 331,709 306,261 317,890 Net interest income 14,997 17,255 25,000 41,000 17,850 Provision for credit losses 265,164 273,795 306,709 265,261 300,040 Net interest income, after provision for credit losses 41,285 32,340 53,378 85,988 61,877 Non-interest income 150,652 156,246 184,574 185,953 205,945 Non-interest expense 155,797 149,889 175,513 165,296 155,972 Income before income taxes 45,122 37,537 47,116 40,619 31,026 Income taxes $ 110,675 $ 112,352 $ 128,397 $ 124,677 $ 124,946 Net income Weighted average number of common shares outstanding: 56,392,620 56,512,587 56,660,833 56,724,054 56,729,416 Basic 57,558,280 57,782,828 57,731,339 58,073,257 57,737,351 Diluted Per Common Share Data: Net income: $ 1.96 $ 1.99 $ 2.27 $ 2.20 $ 2.20 Basic $ 1.92 $ 1.94 $ 2.22 $ 2.15 $ 2.16 Diluted $ 1.94 $ 2.07 $ 2.25 $ 1.90 $ 2.53 Adjusted earnings per common share (Non-GAAP)1 Performance Ratios and Other Data: $ 855,980 $ 1,585,527 $ 1,637,415 $ 684,984 $ 637,867 Growth in loans held for investment, net $ 42,487 $ 47,122 $ 61,009 $ 70,080 $ 62,144 Loan originations for sale 1.85 % 1.77 % 1.83 % 1.77 % 1.69 % Return on average assets 16.85 % 15.94 % 17.44 % 16.26 % 15.69 % Return on average common stockholders’ equity 3.97 % 3.89 % 4.17 % 3.88 % 3.81 % Interest rate spread2 4.84 % 4.75 % 4.94 % 4.57 % 4.54 % Net interest margin3 4.88 % 4.80 % 5.02 % 4.62 % 4.56 % Net interest margin3 – Banking Business Segment 46.87 % 48.32 % 47.93 % 47.41 % 54.23 % Efficiency ratio4 40.94 % 42.89 % 41.39 % 41.54 % 43.10 % Efficiency ratio4 – Banking Business Segment Asset Quality Ratios: 0.16 % 0.11 % 0.04 % 0.31 % 0.25 % Net annualized charge-offs to average loans 0.79 % 0.74 % 0.61 % 0.71 % 0.60 % Nonaccrual loans to total loans 0.71 % 0.64 % 0.56 % 0.62 % 0.53 % Non-performing assets to total assets 1.36 % 1.34 % 1.33 % 1.37 % 1.34 % Allowance for credit losses - loans to total loans held for investment 170.23 % 180.41 % 215.81 % 192.15 % 221.07 % Allowance for credit losses - loans to non-performing loans 1 See “Use of Non-GAAP Financial Measures” herein. 2 Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. 3 Net interest margin represents annualized net interest income as a percentage of average interest-earning assets. 4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income. AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)
Slide 8 — Use of Non-GAAP Financial Measures
8 © 2026 Axos Financial, Inc. All Rights Reserved. 8 1 Favorable legal settlement reflects the recognition of a legal settlement in the Company’s favor reached in March 2026. 2 Acquisition-related costs includes amortization of intangible assets, and for the three months ended September 30, 2025, also includes $1.3 million of acquisition-related costs associated with the Verdant acquisition. June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 (Dollars in thousands, except per share amounts) $ 110,675 $ 112,352 $ 128,397 $ 124,677 $ 124,946 Net income — — — (22,000) — Favorable legal settlement1 — — — — 21,000 FINRA arbitration matter 1,604 2,941 2,419 2,834 5,495 Acquisition-related costs2 — 7,765 — — — Verdant acquisition - Provision for credit losses (465) (2,681) (649) 4,713 (5,271) Income taxes $ 111,814 $ 120,377 $ 130,167 $ 110,224 $ 146,170 Adjusted earnings (non-GAAP) 57,558,280 57,782,828 57,731,339 58,073,257 57,737,351 Average dilutive common shares outstanding $ 1.92 $ 1.94 $ 2.22 $ 2.15 $ 2.16 Diluted EPS — — — (0.38) — Favorable legal settlement1 — — — — 0.36 FINRA arbitration matter 0.03 0.05 0.04 0.05 0.10 Acquisition-related costs2 — 0.13 — — — Verdant acquisition - Provision for credit losses (0.01) (0.05) (0.01) 0.08 (0.09) Income taxes $ 1.94 $ 2.07 $ 2.25 $ 1.90 $ 2.53 Adjusted EPS (Non-GAAP) In addition to the results presented in accordance with GAAP, this earnings supplement includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this report enhance investors’ understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures. We define “adjusted earnings”, a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related costs and other costs (unusual or non-recurring charges). Adjusted earnings per diluted common share (“adjusted EPS”), a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and adjusted EPS provide useful information about the Company’s operating performance. We believe excluding the non-recurring acquisition related costs and other costs (unusual or non-recurring) provides investors with an alternative understanding of Axos’ core business. Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (non-GAAP) for the periods shown: Use of Non-GAAP Financial Measures
Slide 9 — Use of Non-GAAP Financial Measures (cont'd)
9 © 2026 Axos Financial, Inc. All Rights Reserved. 9 We define “tangible book value”, a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders’ equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share, a non-GAAP financial measure, is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company’s capital strength, financial condition, and ability to manage potential losses. Below is a reconciliation of total stockholders’ equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated: June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 (Dollars in thousands, except per share amounts) $ 2,680,677 $ 2,793,121 $ 2,930,092 $ 3,065,183 $ 3,166,418 Common stockholders’ equity 27,218 26,243 25,431 26,299 25,653 Less: servicing rights, carried at fair value 134,502 205,747 196,119 211,046 249,317 Less: goodwill and intangible assets $ 2,518,957 $ 2,561,131 $ 2,708,542 $ 2,827,838 $ 2,891,448 Tangible common stockholders’ equity (Non-GAAP) 56,483,617 56,643,547 56,677,323 56,882,190 56,734,049 Common shares outstanding at end of period $ 47.46 $ 49.31 $ 51.70 $ 53.89 $ 55.81 Book value per common share 0.48 0.46 0.45 0.46 0.45 Less: servicing rights, carried at fair value per common share 2.38 3.63 3.46 3.71 4.40 Less: goodwill and other intangible assets per common share $ 44.60 $ 45.22 $ 47.79 $ 49.72 $ 50.96 Tangible book value per common share (Non-GAAP) Use of Non-GAAP Financial Measures (cont'd)
Slide 10 — Contact Information
10 © 2026 Axos Financial, Inc. All Rights Reserved. 10 Greg Garrabrants, President and CEO Derrick Walsh, EVP and CFO [email protected] www.axosfinancial.com Johnny Lai, SVP Corporate Development and Investor Relations Phone: 858.649.2218 Mobile: 858.245.1442 [email protected] Contact Information